Parker Hannifin shifts to small ventures to boost innovation
Parker Hannifin, a Cleveland area parts maker with 48,000 employees, is creating small business units with startups to reassert its innovation legacy. The first unit, a fuel cell systems division in New Britain Connecticut, partners with Protonex Technology and draws engineers from existing Parker divisions to help commercialize ideas.
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Inflation quickens as February CPI climbs
February CPI rose 0.4 percent led by energy and services costs. Core inflation excluding food and energy rose 0.4 percent, annual core gain 2.4 percent, fueling expectations the Fed will keep tightening into 2006. Dow slipped 14.49 points to 10 456.02.
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Government to Probe 3.7 Million Ford Vehicles
Federal regulators opened a safety investigation into 3.7 million Ford Motor Co pickups and sport utility vehicles. The probe focuses on a defect in the cruise control switch linked to 218 engine fires. Models affected include Ford F-150 trucks 1995-99 and 2001-02, Expeditions and Navigators 1997-99 and 2001-02. No injuries or fatalities reported.
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